July 9, 2024 Delaney SextonContributing Editor SBA 504 Lending Stats by Loan Size For fiscal year 2024, these are the lending statistics by loan size as of July 8, 2024:

July 8, 2024 Delaney SextonContributing Editor Small Business Sentiment at its Highest in 4 Years Says U.S. Chamber of Commerce In the second quarter of 2024, small business sentiment was boosted according to the U.S. Chamber of Commerce’s Small Business Index. The SBI’s score was 69.5, a gain of more than 7 points from the…

July 8, 2024 Delaney SextonContributing Editor SBA 504 Lending Stats by Veteran Status For fiscal year 2024, these are the lending statistics by veteran status as of July 5, 2024:

July 5, 2024 Delaney SextonContributing Editor Fraud Red Flag: Fake Email Addresses – Fraud Friday “Robert Engelmeyer” was a fictitious individual created to aid Nik and Trisha Patel’s loan fraud scheme. He was the identity that was the signer on the loan documentation for the business Precision Powered Products, Inc. (PPP). The email address attributed…

July 3, 2024 Delaney SextonContributing Editor Small Business Loan Approvals and Outstanding Balances Increase in Q1 2024 Small business loan approvals increased at small banks (up from 89% to 93%) and midsized banks (up from 66% to 73%) in the first quarter of 2024. At larger banks, loan approvals have stayed consistent with approval rates…

July 3, 2024 Delaney SextonContributing Editor SBA 504 Lending Stats by Gender For fiscal year 2024, these are the lending statistics by gender as of July 2, 2024:

The Consumer Financial Protection Bureau has published its interim final rule, and the Supreme Court has ruled. The agency is moving forward with its plan to collect small business lending data from lenders. Data collection will begin on October 1, 2024, and compliance reporting will commence on June 1, 2025. Beta testing starts in August.…

July 2, 2024 Delaney SextonContributing Editor Join SBA’s 7(a) Connect Quarterly Update on July 9th SBA’s 7(a) Connect Quarterly Update call is scheduled for Tuesday, July 9th at 3:00 pm ET. Here’s the draft agenda: LGPC – Joe McClure on 7aQuestions, nondelegated topics and turn times Secondary Market team – Marybeth Kerrigan on updates to SBA Form…

July 2, 2024 Delaney SextonContributing Editor A Landmark Merger: AmPac Business Capital and Enterprise Funding Corporation Unite to Revolutionize SBA 504 Lending in the Inland Empire Hilda Kennedy, Founder and President of AmPac, expressed her enthusiasm for the merger, highlighting the strategic growth opportunities it presents. “By joining forces with Enterprise Funding, we are poised…

July 2, 2024 Delaney SextonContributing Editor SBA 504 Lending Stats by Race For fiscal year 2024, these are the lending statistics by race as of July 1, 2024: